First Bancshares Inc (FBMS) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of First Bancshares Inc (NASDAQ:FBMS) from a hold rating to a buy rating in a report released on Friday.

Several other equities research analysts also recently weighed in on FBMS. Keefe, Bruyette & Woods reissued a hold rating and set a $31.00 price target on shares of First Bancshares in a research report on Wednesday, April 5th. Zacks Investment Research downgraded shares of First Bancshares from a buy rating to a hold rating in a research report on Tuesday, March 28th.

First Bancshares (NASDAQ:FBMS) traded down 1.42% during trading on Friday, reaching $27.75. The company had a trading volume of 14,102 shares. First Bancshares has a 12-month low of $16.49 and a 12-month high of $30.80. The firm has a market capitalization of $253.16 million, a PE ratio of 23.78 and a beta of -0.18. The firm’s 50 day moving average price is $28.24 and its 200 day moving average price is $27.65.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 3rd were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, May 1st. First Bancshares’s dividend payout ratio (DPR) is currently 9.15%.

In other news, Chairman E Ricky Gibson purchased 2,000 shares of First Bancshares stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $28.40 per share, with a total value of $56,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donna T. Rutland sold 3,373 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $28.65, for a total transaction of $96,636.45. Following the sale, the chief financial officer now directly owns 31,962 shares of the company’s stock, valued at approximately $915,711.30. The disclosure for this sale can be found here. Insiders have sold 19,917 shares of company stock valued at $565,882 in the last three months. 11.76% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. RMB Capital Management LLC increased its stake in First Bancshares by 129.3% in the first quarter. RMB Capital Management LLC now owns 497,052 shares of the bank’s stock worth $14,166,000 after buying an additional 280,322 shares during the period. Mendon Capital Advisors Corp increased its stake in First Bancshares by 9.4% in the first quarter. Mendon Capital Advisors Corp now owns 392,934 shares of the bank’s stock worth $11,199,000 after buying an additional 33,630 shares during the period. Vanguard Group Inc. increased its stake in First Bancshares by 145.8% in the first quarter. Vanguard Group Inc. now owns 213,193 shares of the bank’s stock worth $6,076,000 after buying an additional 126,470 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in First Bancshares by 19.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 98,168 shares of the bank’s stock worth $2,798,000 after buying an additional 16,310 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in First Bancshares during the first quarter worth approximately $1,060,000. 42.83% of the stock is owned by institutional investors and hedge funds.

About First Bancshares

The First Bancshares, Inc is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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